Mortgage Brokers rose to prominence in the era of subprime lending. Their flexibility to react to the opportunities presented by this market provided both them and many lenders with a new line of business, and profits. Since then, the Mortgage Broker has become a staple in the mortgage origination process providing correspondent and wholesale lenders with a steady stream of…
It seems lenders are finding that the new loan programs offering a minimum of only a 3% down payment aren’t attracting buyers and boosting homeownership among potential low to moderate income home buyers as everyone had hoped. (Low Down Loans) Why not? Some think it’s because of a lack of information, education and understanding about the availability of these programs.…
The most recent Zillow Housing Confidence Index (Where do all these reports come from?) indicates that although many homeowners think now may be a good time to sell their home, they do not believe it is a good time to buy. (Housing Index) That creates a little problem. If existing home owners won’t sell, or buy, and builders aren’t building…
According to MBA’s 2016 second quarter Quarterly Mortgage Bankers Performance Report, Independent Mortgage Bankers income more than doubled over what was earned in the first quarter. Hooray for Brexit, low rates and good old fashioned hard work and ingenuity. Mortgage Bankers did what they do best. Make loans and make money while doing so. Once again, Independent Mortgage Bankers demonstrated…
Credit Data Just got Bigger Beginning September 24th, Fannie will require lenders to utilize the new improved credit data provided in reports by Equifax and TransUnion. These new reports will utilize trended credit data as opposed to the static FICO score. (Trends) Years ago, we were told that these repositories created a much better process to evaluate a consumer’s credit…
In today’s digital world, websites are able to generate advertising dollars based on content and clicks and views of the site. The more clicks (views) the more successful the site and the more advertising dollars can be generated. So, just as it is with news print media, news outlets seek creative ways to draw attention to their site. One day…
